EX-99.2 3 aub-20251023xex99d2.htm EX-99.2
Exhibit 99.2

| Q3 2025 EARNINGS PRESENTATION NYSE: AUB October 23, 2025

| 2 FORWARD-LOOKING STATEMENTS This presentation and statements by our management may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include, without limitation, statements regarding our acquisition of Sandy Spring Bancorp, Inc. (“Sandy Spring”) and expectations with regard to the benefits of the Sandy Spring acquisition, statements regarding our business, financial and operating results, including our deposit base and funding; the impact of changes in economic conditions, anticipated changes in the interest rate environment and the related impacts on our net interest margin, changes in economic, fiscal or trade policy and the potential impacts on our business, loan demand and economic conditions, in our markets and nationally; management’s beliefs regarding our liquidity, capital resources, asset quality, CRE loan portfolio and our customer relationships; statements regarding our North Carolina expansion strategy and the impact of such strategy, statements that include other projections, predictions, expectations, or beliefs about future events or results or otherwise are not statements of historical fact, and statements on the slides entitled “2025 Financial Outlook (inclusive of Sandy Spring beginning April 1st)” and “North Carolina Expansion Strategy.” Such forward-looking statements are based on certain assumptions as of the time they are made, and are inherently subject to known and unknown risks, uncertainties, and other factors, some of which cannot be predicted or quantified, that may cause actual results, performance, or achievements to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are often characterized by the use of qualified words (and their derivatives) such as “expect,” “believe,” “estimate,” “plan,” “project,” “anticipate,” “intend,” “will,” “may,” “view,” “opportunity,” “seek to,” “potential,” “continue,” “confidence,” or words of similar meaning or other statements concerning opinions or judgment of Atlantic Union Bankshares Corporation (the “Company,” “AUB,” “we,” “us” or “our”) and our management about future events. Although we believe that our expectations with respect to forward-looking statements are based on reasonable assumptions within the bounds of our existing knowledge of our business and operations, there can be no assurance that actual future results, performance, or achievements of, or trends affecting, us will not differ materially from any projected future results, performance, achievements or trends expressed or implied by such forward-looking statements. Actual future results, performance, achievements or trends may differ materially from historical results or those anticipated depending on a variety of factors, including, but not limited to, the effects of or changes in: • market interest rates and their related impacts on macroeconomic conditions, customer and client behavior, our funding costs and our loan and securities portfolios; • economic conditions, including inflation and recessionary conditions and their related impacts on economic growth and customer and client behavior; • U.S. and global trade policies and tensions, including change in, or the imposition of, tariffs and/or trade barriers and the economic impacts, volatility and uncertainty resulting therefrom, and geopolitical instability; • volatility in the financial services sector, including failures or rumors of failures of other depository institutions, along with actions taken by governmental agencies to address such turmoil, and the effects on the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital; • legislative or regulatory changes and requirements, including as part of the regulatory reform agenda of the Trump administration, including changes in federal state or local tax laws and changes impacting the rulemaking, supervision, examination and enforcement priorities of the federal banking agencies; • the sufficiency of liquidity and changes in our capital position; • general economic and financial market conditions in the United States generally and particularly in the markets in which we operate and which our loans are concentrated, including the effects of declines in real estate values, an increase in unemployment levels, U.S. fiscal debt, budget and tax matters, U.S. government shutdowns, and slowdowns in economic growth; • the impact of purchase accounting with respect to the Sandy Spring acquisition, or any change in the assumptions used regarding the assets acquired and liabilities assumed to determine the fair value and credit marks; • the possibility that the anticipated benefits of our acquisition activity, including our acquisitions of Sandy Spring and American National, including anticipated cost savings and strategic gains, are not realized when expected or at all, including as a result of the strength of the economy, competitive factors in the areas where we do business, or as a result of other unexpected factors or events, or with respect to our acquisition of Sandy Spring, as a result of the impact of, or problems arising from, the integration of the two companies; • potential adverse reactions or changes to business or employee relationships, including those resulting from our acquisitions of Sandy Spring and American National; • our ability to identify, recruit and retain key employees • monetary, fiscal and regulatory policies of the U.S. government, including policies of the U.S. Department of the Treasury and the Federal Reserve; • the quality or composition of our loan or investment portfolios and changes in these portfolios; • demand for loan products and financial services in our market areas; • our ability to manage our growth or implement our growth strategy; • the effectiveness of expense reduction plans; • the introduction of new lines of business or new products and services; • real estate values in our lending area; • changes in accounting principles, standards, rules, and interpretations, and the related impact on our financial statements; • an insufficient ACL or volatility in the ACL resulting from the CECL methodology, either alone or as that may be affected by changing economic conditions, credit concentrations, inflation, changing interest rates, or other factors; • concentrations of loans secured by real estate, particularly commercial real estate; • the effectiveness of our credit processes and management of our credit risk; • our ability to compete in the market for financial services and increased competition from fintech companies; • technological risks and developments, and cyber threats, attacks, or events; • operational, technological, cultural, regulatory, legal, credit, and other risks associated with the exploration, consummation and integration of potential future acquisitions, whether involving stock or cash consideration; • the potential adverse effects of unusual and infrequently occurring events, such as weather-related disasters, terrorist acts, geopolitical conflicts or public health events (such as pandemics), and of governmental and societal responses thereto; these potential adverse effects may include, without limitation, adverse effects on the ability of our borrowers to satisfy their obligations to us, on the value of collateral securing loans, on the demand for our loans or our other products and services, on supply chains and methods used to distribute products and services, on incidents of cyberattack and fraud, on our liquidity or capital positions, on risks posed by reliance on third-party service providers, on other aspects of our business operations and on financial markets and economic growth; • performance by our counterparties or vendors; • deposit flows; • the availability of financing and the terms thereof; • the level of prepayments on loans and mortgage-backed securities; • actual or potential claims, damages, and fines related to litigation or government actions, which may result in, among other things, additional costs, fines, penalties, restrictions on our business activities, reputational harm, or other adverse consequences; • any event or development that would cause us to conclude that there was an impairment of any asset, including intangible assets, such as goodwill; and • other factors, many of which are beyond our control. Please also refer to such other factors as discussed throughout Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our Annual Report on Form 10-K for the year ended December 31, 2024, and related disclosures in other filings, which have been filed with the U.S. Securities and Exchange Commission (“SEC”) and are available on the SEC’s website at www.sec.gov. All risk factors and uncertainties described herein and therein should be considered in evaluating forward-looking statements, and all forward-looking statements are expressly qualified by the cautionary statements contained or referred to herein and therein. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on the Company or our businesses or operations. Readers are cautioned not to rely too heavily on forward-looking statements. Forward-looking statements speak only as of the date they are made. We do not intend or assume any obligation to update, revise or clarify any forward-looking statements that may be made from time to time by or on behalf of the Company, whether because of new information, future events or otherwise, except as required by law.

| 3 ADDITIONAL INFORMATION Non-GAAP Financial Measures This presentation contains certain financial information determined by methods other than in accordance with generally accepted accounting principles in the United States (“GAAP”). These non-GAAP financial measures are a supplement to GAAP, which is used to prepare our financial statements, and should not be considered in isolation or as a substitute for comparable measures calculated in accordance with GAAP. In addition, our non-GAAP financial measures may not be comparable to non-GAAP financial measures of other companies. We use the non-GAAP financial measures discussed herein in our analysis of our performance. Our management believes that these non-GAAP financial measures provide additional understanding of ongoing operations, enhance comparability of results of operations with prior periods, show the effects of significant gains and charges in the periods presented without the impact of items or events that may obscure trends in our underlying performance, or show the potential effects of accumulated other comprehensive income (or AOCI) or unrealized losses on securities on our capital. This presentation also includes certain projections of non-GAAP financial measures. Due to the inherent variability and difficulty associated with making accurate forecasts and projections of information that is excluded from these projected non-GAAP measures, and the fact that some of the excluded information is not currently ascertainable or accessible, we are unable to quantify certain amounts that would be required to be included in the most directly comparable projected GAAP financial measures without unreasonable effort. Consequently, no disclosure of projected comparable GAAP measures is included, and no reconciliation of forward-looking non-GAAP financial information is included. Please see “Reconciliation of Non-GAAP Disclosures” at the end of this presentation for a reconciliation to the nearest GAAP financial measure. No Offer or Solicitation This presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, and no offer to sell or solicitation of an offer to buy shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful. Market and Industry Data Unless otherwise indicated, market data and certain industry forecast data used in this presentation were obtained from internal reports, where appropriate, as well as third party sources and other publicly available information. Data regarding the industries in which the Company competes, its market position and market share within these industries are inherently imprecise and are subject to significant business, economic and competitive uncertainties beyond the Company's control. In addition, assumptions and estimates of the Company and its industries' future performance are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause future performance to differ materially from assumptions and estimates. About Atlantic Union Bankshares Corporation Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation (NYSE: AUB) is the holding company for Atlantic Union Bank. Atlantic Union Bank has branches and ATMs located in Virginia, Maryland, North Carolina and Washington D.C. Certain non-bank financial services affiliates of Atlantic Union Bank include: Atlantic Union Equipment Finance, Inc., which provides equipment financing; Atlantic Union Financial Consultants, LLC, which provides brokerage services; and Union Insurance Group, LLC, which offers various lines of insurance products.

| 4 N O R F O L K V I R G I N I A B E A C H M a ry l a n d V irg in ia No rth C a ro l in a C H A R L O T T E W I L M I N G T O N B A L T I M O R E R A L E I G H G R E E N S B O R O W A S H I N G T O N R O A N O K E S T A U N T O N C H A R L O T T E S V I L L E R I C H M O N D F R E D E R I C K S B U R G HIGHLIGHTS1 branches across Virginia, North Carolina and Maryland footprint 178 largest regional bank in Mid-Atlantic, Maryland and Virginia2,3 #1 $37.1 Billion Assets $27.4 Billion Loans $30.7 Billion Deposits $4.8 Billion Market Capitalization Soundness | Profitability | Growth 1. Assets, Loans, Deposits are as of September 30, 2025. Branch Count as of October 14, 2025 and Market Cap as of October 22, 2025. 2. Based on deposit market share. Regional market: Delaware, Maryland, New Jersey, Pennsylvania, Virginia, Washington D.C., and West Virginia 3. Regional banks defined as U.S. Banks with <$100 Billion in assets OUR COMPANY Branch (178) LPO (2) Largest Regional Bank Headquartered in the Lower Mid-Atlantic

| 5 Dense, uniquely valuable presence across attractive markets FINANCIAL STRENGTH Solid balance sheet & capital levels PEER-LEADING PERFORMANCE Committed to top-tier financial performance ATTRACTIVE FINANCIAL PROFILE Solid dividend yield & payout ratio with earnings upside STRONG GROWTH POTENTIAL Organic & acquisition opportunities OUR SHAREHOLDER VALUE PROPOSITION Positioned for growth and long-term shareholder value creation as a preeminent regional bank with a leading presence in attractive markets LEADING REGIONAL PRESENCE

| AUB Q3 2025 FINANCIAL RESULTS

| 7 1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measure in "Appendix - Reconciliation of Non-GAAP Disclosures” HIGHLIGHTS Q3 2025 LOANS & DEPOSITS Loan growth was approximately 0.5% annualized in seasonally slow Q3 2025. Average loan growth quarter over quarter of 4.3% annualized Non-interest bearing deposits remained at 23% of total deposits Loan/Deposit ratio of 89.2% at September 30, 2025 POSITIONING FOR LONG TERM Lending pipelines remain healthy Focused on generating positive operating leverage DIFFERENTIATED CLIENT EXPERIENCE Responsive, strong and capable alternative to large national banks, while competitive with and more capable than smaller banks CAPITALIZE ON STRATEGIC OPPORTUNITIES Focused on execution and integration of Sandy Spring franchise Successfully converted core systems of Sandy Spring over weekend of October 11 and concurrently closed 5 branches Organic expansion in North Carolina planned in 2026 FINANCIAL RATIOS Q3 2025 adjusted operating return on tangible common equity of 20.1%1 Q3 2025 adjusted operating return on assets of 1.30%1 Q3 2025 adjusted operating efficiency ratio (FTE) of 48.8%1 ASSET QUALITY Q3 2025 net charge-offs at 56 basis points and year to date net charge-offs at 23 bps of total average loans held for investment annualized – maintain net charge-off ratio outlook of 15-20 bps for full year Charged off two individually assessed C&I loans, which had been partially reserved for in prior quarters Allowance for Credit Loss as a percentage of loans held for investment of 1.17% 7

| Source: Most recent data available from SNL Financial; Bureau of Economic Analysis; Bureau of Labor Statistics, CNBC, U.S. Small Business Administration, Business Facilities 8 AMONG THE MOST ATTRACTIVE STATES IN USA FOR BUSINESS Virginia rated 1st in Workforce Training and Cybersecurity, 2nd in Tech Talent Pipeline and 3 rd in Business Climate North Carolina rated 2nd in Business Climate Virginia ranked 3rd and Maryland ranked 4th in AI Growth Hubs # State August 2025 % 1 South Dakota 1.9 2 North Dakota 2.5 2 Vermont 2.5 4 Hawaii 2.7 5 Alabama 2.9 5 Montana 2.9 7 Nebraska 3.0 7 New Hampshire 3.0 # State Pop. (Millions) 1 California 38.9 2 Texas 31.2 3 Florida 23.2 4 New York 19.4 5 Pennsylvania 13.0 6 Illinois 12.5 7 Ohio 11.8 8 Georgia 11.2 # State HHI ($) 1 District of Columbia 106,049 2 New Jersey 99,357 3 Maryland 99,340 4 Massachusetts 98,170 5 New Hampshire 96,809 6 Washington 96,120 7 Utah 95,601 8 Colorado 95,479 # State GDP ($Billions) 1 California 4,198 2 Texas 2,798 3 New York 2,364 4 Florida 1,762 5 Illinois 1,158 6 Pennsylvania 1,055 7 Ohio 953 8 Georgia 907 # State Pop. (Millions) 9 North Carolina 11.1 10 Michigan 10.1 11 New Jersey 9.3 12 Virginia 8.8 13 Washington 7.9 14 Arizona 7.6 15 Tennessee 7.3 19 Maryland 6.2 # State HHI ($) 9 Connecticut 95,392 10 California 95,065 11 Hawaii 94,556 12 Alaska 94,247 13 Virginia 92,714 14 Minnesota 88,572 15 Delaware 87,667 37 North Carolina 71,489 # State August 2025 % 9 Oklahoma 3.1 9 Wisconsin 3.1 15 Maryland 3.6 15 Virginia 3.6 20 North Carolina 3.7 51 District of Columbia 6.0 National Rate 4.3 # State GDP ($Billions) 9 Washington 872 10 New Jersey 867 11 North Carolina 866 12 Massachusetts 798 13 Virginia 787 14 Michigan 726 15 Colorado 569 18 Maryland 557 Ranked Virginia the Best State for Business for 2024, 2021 and 2020 and 2nd best in 2023 North Carolina ranked best in 2025 and 2023 and 2nd best in 2024 Maryland ranked 8th for Technology and Innovation in 2024 Virginia has 854,172 small businesses — 99.6% of VA businesses Maryland has 668,365 small businesses — 99.6% of MD businesses North Carolina has 1.1 million small businesses — 99.6% of NC businesses MEDIAN HOUSEHOLD INCOME ($) 2025 POPULATION (MILLIONS) 2025 GDP UNEMPLOYMENT BY STATE ( $ B I LLI O N S )

| 9 SUMMARIZED INCOME STATEMENT 3Q2025 2Q2025 $ Change % Change Net interest income $319,210 $321,371 ($2,161) (0.7%) - Provision for credit losses 16,233 105,707 (89,474) (84.6%) + Noninterest income 51,751 81,522 (29,771) (36.5%) - Noninterest expense 238,446 279,698 (41,252) (14.7%) - Income tax expense (benefit) 24,142 (2,303) 26,445 NM Net income (GAAP) $92,140 $19,791 $72,349 NM - Dividends on preferred stock 2,967 2,967 — 0.0% Net income available to common shareholders (GAAP) $89,173 $16,824 $72,349 NM + Merger-related costs, net of tax 26,856 63,349 (36,493) (57.6%) - Gain on sale of securities, net of tax 3 12 (9) (75.0%) +CECL Day 1 non-PCD loans and RUC provision expense, net of tax — 77,742 (77,742) (100.0%) - (Loss) gain on CRE loan sale, net of tax (3,700) 12,104 (15,804) (130.6%) - Gain on sale of equity interest in CSP, net of tax — 10,654 (10,654) (100.0%) Adjusted operating earnings available to common shareholders (non-GAAP)1 $119,726 $135,145 ($15,419) (11.4%) NM - Not Meaningful 1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures” Note: all tables presented dollars in thousands, except per share amounts Q3 2025 FINANCIAL PERFORMANCE AT-A-GLANCE • Reported net income available to common shareholders increased $72.3 million, primarily driven by: • A decrease in the provision for credit losses, primarily driven by $100.9 million in aggregate initial provision expense recorded in the second quarter related to the Sandy Spring acquisition • A decrease in noninterest expense, primarily driven by a $44.1 million decrease in pre-tax merger-related costs related to the Sandy Spring acquisition in the third quarter • A decrease in noninterest income, primarily driven by a $15.7 million pre-tax gain on the commercial real estate (“CRE”) loan sale in the prior quarter, compared to a $4.8 million pre-tax loss in the third quarter of 2025 related to the final CRE loan sale settlement, as well as a $14.3 million pre-tax gain on the sale of our equity interest in Cary Street Partners (“CSP”) in the second quarter of 2025. • An increase in income tax expense primarily due to an increase in pre-tax income in the third quarter as well as the impact of an $8.0 million income tax benefit recognized in the prior quarter due to the re-evaluation of state net deferred tax assets as a result of the Sandy Spring acquisition. • Adjusted operating earnings available to common shareholders1 decreased $15.4 million primarily driven by: • An increase in income tax expense as described above • An increase in provision for credit losses, primarily due to an increase in net charge-offs, primarily related to two individually assessed C&I loans, which were partially reserved for in prior quarters. EARNINGS METRICS 3Q2025 2Q2025 Net Income available to common shareholders $89,173 $16,824 Common EPS, diluted $0.63 $0.12 ROE 7.51% 1.67% ROTCE (non-GAAP)1 15.51% 4.99% ROA 0.98% 0.21% Efficiency ratio 64.28% 69.42% Efficiency ratio (FTE)1 63.52% 68.68% Net interest margin 3.77% 3.78% Net interest margin (FTE)1 3.83% 3.83% ADJUSTED OPERATING EARNINGS METRICS - NON-GAAP1 3Q2025 2Q2025 Adjusted operating earnings available to common shareholders $119,726 $135,145 Adjusted operating common EPS, diluted $0.84 $0.95 Adjusted operating ROA 1.30% 1.46% Adjusted operating ROTCE 20.09% 23.79% Adjusted operating efficiency ratio (FTE) 48.79% 48.34% Adjusted operating earnings PTPP $172,128 $172,059 PTPP = Pre-tax Pre-provision

| 10 Numbers may not foot due to rounding Q3 2025 ALLOWANCE FOR CREDIT LOSSES (ACL) AND PROVISION FOR CREDIT LOSSES Q3 MACROECONOMIC FORECAST Q3 ACL CONSIDERATIONS MOODY’S SEPTEMBER 2025 BASELINE FORECAST: • US GDP expected to average ~1.8% growth in 2025 and ~1.5% in 2026. • The national unemployment rate expected to average 4.2% for the year 2025 and average 4.6% for the year 2026. • Utilizes a weighted Moody’s forecast economic scenarios approach in the quantitative model. • The allowance decrease was primarily due to the charge-off of two individually assessed C&I loans, which were partially reserved for in prior quarters. • The reasonable and supportable forecast period is 2 years; followed by reversion to the historical loss average over 2 years. ALLOWANCE FOR LOAN & LEASE LOSSES (ALLL) RESERVE FOR UNFUNDED COMMITMENTS (RUC) ALLOWANCE FOR CREDIT LOSSES 03/31/2025 Ending Balance % of loans $193.8 million (1.05%) $15.2 million (0.08%) $209.0 million (1.13%) Sandy Spring Initial Allowance – Non-PCD recorded via provision expense +$89.5 million +$11.4 million +$100.9 million Provision for credit losses Sandy Spring Initial Allowance – PCD recorded via PCD gross up of ALLL $28.3 million - $28.3 million Q2 2025 Activity +$4.0 million Increase primarily reflecting loan growth and the impacts of deteriorating macroeconomic forecasts. +$0.2 million Slight increase primarily reflecting the impacts of deteriorating macroeconomic forecasts. +$4.2 million $4.8 million Provision for Credit Losses and $0.6 million net charge-offs 06/30/2025 Ending Balance % of loans $315.6 million (1.15%) $26.8 million (0.10%) $342.4 million (1.25%) Q3 2025 Activity - $22.6 million Decrease primarily due to the charge-off of two individually assessed C&I loans, which were partially reserved for in prior quarters. +0.2 million Increase primarily reflecting an increase in unfunded commitment balances. - $22.4 million $16.2 million Provision for Credit Losses and $38.6 million net charge-offs. 09/30/2025 Ending Balance % of loans $293.0 million (1.07%) $27.0 million (0.10%) $320.0 million (1.17%)

| 11 Q2 2025 Reported NIM Core Loan Yield* Earning Assets Mix Core Deposit Rate Funding Cost Mix Net Purchase Accounting Accretion Q3 2025 Reported NIM NET INTEREST MARGIN (FTE): DRIVERS OF CHANGE 2Q 2025 TO 3Q 2025 * Core Loan yield includes Loan Fees and Swaps 1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures” Numbers may not foot due to rounding Q3 2025 NET INTEREST MARGIN MARKET RATES 3Q 2025 2Q 2025 EOP Avg EOP Avg Fed funds 4.25% 4.46% 4.50% 4.50% Prime 7.25% 7.46% 7.50% 7.50% 1-month SOFR 4.13% 4.29% 4.32% 4.32% 2-year Treasury 3.61% 3.73% 3.72% 3.87% 10- year Treasury 4.15% 4.25% 4.23% 4.35% MARGIN OVERVIEW 3Q 2025 2Q 2025 Net interest margin (FTE)1 3.83% 3.83% Loan yield 6.43% 6.48% Investment yield 4.10% 4.15% Earning asset yield 6.00% 6.05% Cost of deposits 2.18% 2.20% Cost of interest-bearing deposits 2.81% 2.85% Cost of interest-bearing liabilities 2.93% 2.97% Cost of funds 2.17% 2.22% Presented on an FTE basis (non-GAAP)1 Approximately 21% of the total loan portfolio at 9/30/2025 have floors and all are above floors LOAN PORTFOLIO PRICING MIX 3Q 2025 Fixed 50% 1-month SOFR 37% Prime 8% Other 5% Total 100% 3.83% - 1 bps -1 bps 3.83% 5 bps - 4 bps 1 bps

| 1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures” 12 Q3 2025 NONINTEREST INCOME Adjusted operating noninterest income1 increased approximately 10% in the third quarter compared to the second quarter primarily due to: • An increase in loan–related interest rate swap fees due to higher transaction volumes • A $1.2 million increase in other operating income primarily due to an increase in equity method investment income • Partially offset by a decrease in bank owned life insurance income due to death benefits of $2.4 million received in the second quarter ($ THOUSANDS) 3Q2025 2Q2025 $ Change % Change Service charges on deposit accounts $12,838 $12,220 $618 5.1% Other service charges, commissions and fees 2,325 2,245 80 3.6% Interchange fees 4,089 3,779 310 8.2% Fiduciary and asset management fees 18,595 17,723 872 4.9% Mortgage banking income 2,811 2,821 (10) (0.4%) Gain on sale of securities 4 16 (12) (75.0%) Bank owned life insurance income 5,116 7,327 (2,211) (30.2%) Loan-related interest rate swap fees 5,911 1,733 4,178 NM Other operating income 62 33,658 (33,596) (99.8%) Total noninterest income $51,751 $81,522 ($29,771) (36.5%) Less: Gain on sale of securities 4 16 (12) (75.0%) Less: (Loss) gain on CRE loan sale (4,805) 15,720 (20,525) (130.6%) Less: Gain on sale of equity interest in CSP — 14,300 (14,300) (100.0%) Total adjusted operating noninterest income (non-GAAP)1 $56,552 $51,486 $5,066 9.8% NM - Not Meaningful

| 1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures” 13 Q3 2025 NONINTEREST EXPENSE Adjusted operating noninterest expense1 increased 1.7% in the third quarter compared to the second quarter primarily due to: • An increase in marketing and advertising expense primarily driven by increased market coverage due to the Sandy Spring acquisition • An increase in professional services related to strategic projects that occurred during the third quarter of 2025 • An increase in other expenses, primarily due to an increase in other real estate owned and credit-related expenses • An increase in occupancy expenses • Partially offset by a decrease in salaries and benefits expense, primarily driven by reductions in full-time equivalent employees and lower group insurance expenses, partially offset by an increase in variable incentive compensation expenses ($ THOUSANDS) 3Q2025 2Q2025 $ Change % Change Salaries and benefits $108,319 $109,942 ($1,623) (1.5%) Occupancy expenses 13,582 12,782 800 6.3% Furniture and equipment expenses 6,536 6,344 192 3.0% Technology and data processing 17,009 17,248 (239) (1.4%) Professional services 8,774 7,808 966 12.4% Marketing and advertising expense 5,100 3,757 1,343 35.7% FDIC assessment premiums and other insurance 8,817 8,642 175 2.0% Franchise and other taxes 4,669 4,688 (19) (0.4%) Loan-related expenses 1,933 1,278 655 51.3% Amortization of intangible assets 18,145 18,433 (288) (1.6%) Merger-related costs 34,812 78,900 (44,088) (55.9%) Other expenses 10,750 9,876 874 8.8% Total noninterest expenses $238,446 $279,698 ($41,252) (14.7%) Less: Amortization of intangible assets 18,145 18,433 (288) (1.6%) Less: Merger-related costs 34,812 78,900 (44,088) (55.9%) Total adjusted operating noninterest expense (non-GAAP)1 $185,489 $182,365 $3,124 1.7%

| 14 Q3 2025 LOAN AND DEPOSIT GROWTH • At September 30, 2025, loans held for investment (“LHFI”) totaled $27.4 billion, an increase of $32.8 million from the prior quarter. • During the third quarter of 2025 there was a re-class of approximately $377.9 million in CRE non-owner occupied loans to CRE owner occupied loans. • Loan yields decreased 5 basis points to 6.43%. • At September 30, 2025, total deposits were $30.7 billion, a decrease of $306.9 million from the prior quarter due to decreases in interest bearing customer deposits and brokered deposits, partially offset by an increase in demand deposits. • Noninterest-bearing demand deposits accounted for 23% of total deposit balances at the end of the third quarter of 2025 consistent with the prior quarter. • The cost of deposits decreased by 2 basis points compared to the prior quarter. • At September 30, 2025, the loan to deposit ratio was 89.2%, up from 88.2% in the prior quarter. LOAN GROWTH ($ THOUSANDS) 3Q2025 2Q2025 QTD ANNUALIZED GROWTH Commercial real estate - non-owner occupied $ 6,805,302 $ 6,912,692 (6.2%) Commercial real estate - owner occupied 4,335,919 3,940,371 39.8% Construction and land development 2,163,182 2,444,151 (45.6%) Multifamily real estate 2,196,467 2,083,559 21.5% Residential 1-4 Family - Commercial 1,105,067 1,131,288 (9.2%) Total Commercial Real Estate (CRE) 16,605,937 16,512,061 2.3% Commercial & Industrial 4,956,770 5,141,691 (14.3%) Other Commercial 1,478,979 1,409,370 19.6% Total Commercial & Industrial 6,435,749 6,551,061 (7.0%) Total Commercial Loans $ 23,041,686 $ 23,063,122 (0.4%) Residential 1-4 Family - Consumer 2,799,669 2,746,046 7.7% Residential 1-4 Family - Revolving 1,186,298 1,154,085 11.1% Auto 211,900 245,554 (54.4%) Consumer 121,620 119,526 7.0% Total Consumer Loans $ 4,319,487 $ 4,265,211 5.0% Total Loans Held for Investment (LHFI) (net of deferred fees and costs) $ 27,361,173 $ 27,328,333 0.5% Average Loan Yield 6.43% 6.48% DEPOSIT GROWTH ($ THOUSANDS) 3Q2025 2Q2025 QTD ANNUALIZED GROWTH Interest checking accounts $ 6,916,702 $ 6,909,250 0.4% Money market accounts 6,932,836 7,242,686 (17.0%) Savings accounts 2,882,897 2,865,159 2.5% Customer time deposits of more than $250,000 1,773,710 1,780,027 (1.4%) Customer time deposits of $250,000 or less 4,007,070 3,972,352 3.5% Time deposits 5,780,780 5,752,379 2.0% Total interest-bearing customer deposits 22,513,215 22,769,474 (4.5%) Brokered deposits 1,047,467 1,163,580 (39.6%) Total interest-bearing deposits 23,560,682 23,933,054 (6.2%) Demand deposits 7,104,642 7,039,121 3.7% Total Deposits $ 30,665,324 $ 30,972,175 (3.9%) Average Cost of Deposits 2.18% 2.20% Loan to Deposit Ratio 89.2% 88.2%

| 15 CAPITAL RATIO REGULATORY WELL CAPITALIZED MINIMUMS REPORTED PRO FORMA INCLUDING AOCI & HTM UNREALIZED LOSSES ATLANTIC UNION BANKSHARES ATLANTIC UNION BANK ATLANTIC UNION BANKSHARES ATLANTIC UNION BANK Common Equity Tier 1 Ratio (CET1) 6.5% 9.9% 12.8% 8.9% 11.8% Tier 1 Capital Ratio 8.0% 10.5% 12.8% 9.4% 11.8% Total Risk Based Capital Ratio 10.0% 13.8% 13.8% 12.8% 12.7% Leverage Ratio 5.0% 8.9% 10.9% 8.0% 10.0% Tangible Equity to Tangible Assets (non-GAAP)1 - 8.2% 10.2% 8.1% 10.1% Tangible Common Equity Ratio (non-GAAP) 1 - 7.7% 10.2% 7.6% 10.1% 1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures” * Capital information presented herein is based on estimates and subject to change pending the Company’s filing of its regulatory reports STRONG CAPITAL POSITION CAPITAL MANAGEMENT STRATEGY ATLANTIC UNION CAPITAL MANAGEMENT OBJECTIVES ARE TO: • Maintain designation as a “well capitalized” institution. • Ensure capital levels are commensurate with the Company’s risk profile, capital stress test projections, and strategic plan objectives. THE COMPANY’S CAPITAL RATIOS ARE WELL ABOVE REGULATORY WELL CAPITALIZED LEVELS AS OF SEPTEMBER 30, 2025 • On a pro forma standalone basis, the Company would be well capitalized if unrealized losses on securities were realized at September 30, 2025. CAPITAL MANAGEMENT ACTIONS • During the third quarter, the Company paid a common stock dividend of 34 cents per share, which was an increase of 6.3% from the third quarter of 2024 dividend amount. • During the third quarter of 2025, the Company paid dividends of $171.88 per outstanding share of Series A Preferred Stock At September 30,2025

| 16 1. Information on this slide is presented as of October 23, 2025, reflects the Company’s updated financial outlook, certain of the Company’s financial targets, and key economic and other assumptions, and will not be updated or affirmed unless and until the Company publicly announces such an update or affirmation. The adjusted operating noninterest expense outlook excludes amortization of intangible assets, merger-related costs, and FDIC special assessments, and the adjusted operating noninterest income outlook excludes gains and losses on the sale of securities, loans or the equity interest in CSP. The FY 2025 financial outlook, the Company’s financial targets for the fourth quarter of 2025 and the key economic assumptions contain forward-looking statements. These statements are based on current beliefs and expectations of our management and are subject to significant risks and uncertainties, including, but not limited to, volatility and uncertainty in the macroeconomic environment, changes in federal and state governmental policies, the imposition or expansion of tariffs, sustained inflationary pressures, recessionary conditions, and geopolitical instability. As a result, actual results or conditions may differ materially. See the information set forth below the heading “Forward-Looking Statements” on slide 2 of this presentation. 2. Refer to “Additional Information” slide and Appendix for non-GAAP disclosures. 3. Includes preliminary estimates of accretion income from the Sandy Spring acquisition which are subject to change. 2025 FINANCIAL OUTLOOK1 • Full Year 2025 outlook includes nine months impact of the Sandy Spring acquisition in results • The outlook includes estimates of merger-related purchase accounting adjustments with respect to the Sandy Spring acquisition that are subject to change • Remain on track for cost-savings target of 27% of Sandy Spring non-interest expense • The Federal Reserve Bank cuts the Fed Funds rate by 25 bps two more times in 2025 and term rates remain stable • Expect Virginia, Maryland and North Carolina unemployment rate to rise but remain below the national unemployment rate in 2025 Loans Mid Single Digit growth in 4Q annualized (period end) $27.7 – 28.0 billion Deposits Low Single Digit growth in 4Q annualized (period end) $30.8 – 31.0 billion Credit Outlook Net charge-off ratio: ~10bps ACL to loans: ~115 – 120 bps Net charge-off ratio: ~15 – 20 bps Net Interest Income (FTE) 2,3 ~$325 - $330 million ~$1.160 - $1.165 billion Net Interest Margin (FTE)2,3 ~3.85% - 3.90% ~3.75% - 3.80% Adjusted Operating Noninterest Income2 ~$50 - $55 million ~$185 - $190 million Adjusted Operating Noninterest Expense2 (excludes amortization of intangible assets) ~$183 - $188 million ~$675 - $680 million Amortization of intangible assets ~$18 million ~$60 million KEY ASSUMPTIONS1 FULL YEAR 2025 OUTLOOK1 Inclusive of Sandy Spring beginning April 1st Targets for 4Q 20251

| Q3 2025 APPENDIX

| 18 10 New Branches Planned Over Next 3 Years Our initial focus will be in Raleigh and Wilmington, with plans to open highly visible locations targeting attractive submarkets combined with AUB branded ATMs at high-traffic retailers and paired with expanded commercial, wealth and mortgage teams Branch count as of October 14, 2025 North Carolina Expansion Strategy 7 Raleigh Branches 3 Wilmington Branches 49 Off-Site ATMs N O R F O L K V I R G I N I A B E A C H M a ry l a n d V irg in ia No rth C a ro l in a C H A R L O T T E W I L M I N G T O N B A L T I M O R E R A L E I G H G R E E N S B O R O W A S H I N G T O N R O A N O K E S T A U N T O N C H A R L O T T E S V I L L E R I C H M O N D F R E D E R I C K S B U R G Current Branch (178) LPO (1) Additional Branch Following Planned Expansion (10)

| 19 AUB DIVERSIFIED AND GRANULAR LOAN PORTFOLIO Figures may not total to 100% due to rounding Duration and Weighted Average Yield Data is as of or for the three months ended September 30, 2025 Commercial defined as C&I plus owner-occupied commercial real estate and other commercial Duration Q2 2025 Weighted Average Yield (Tax Equivalent) C&D 7.9% Owner Occupied CRE 15.8% C&I 18.1% Other Commercial Commercial 1-4 Family 5.4% 4.0% Non-Owner Occupied CRE 24.9% Multifamily RE 8.0% Consumer 1-4 Family 10.2% Residential 1-4 family - Revolving 4.3% Auto 0.8% Consumer 0.4% TOTAL LOAN PORTFOLIO $27.4 BILLION Total Portfolio Characteristics At September 30,2025 LOAN PORTFOLIO CHARACTERISTICS 1.5 years Duration 39% Commercial 6.43% Q3 2025 Weighted Average Yield (Tax Equivalent)

| 20 Total Non-Owner Occupied CRE 24.9% Owner Occupied CRE 15.8% Construction and Land Development 7.9% Multifamily Real Estate 8.0% Residential 1-4 Family - Commercial 4.0% All Other Loans 39.3% Figures may not foot due to rounding AUB CRE PORTFOLIO At September 30,2025 CRE BY CLASS $ I N M I LLI O N S Total Outstandings % of Portfolio Hotel/Motel B&B $1,202 4.4% Industrial/Warehouse $1,287 4.7% Office $1,392 5.1% Retail $1,724 6.3% Self Storage $611 2.2% Senior Living $101 0.4% Other $489 1.8% Total Non-Owner Occupied CRE $6,805 24.9% Owner Occupied CRE $4,336 15.8% Construction and Land Development $2,163 7.9% Multifamily Real Estate $2,196 8.0% Residential 1-4 Family - Commercial $1,105 4.0% Total CRE $16,606 60.7% $27.4B Total Loans

| 21 At September 30,2025 1. Trailing 4 Quarters Avg NCO/Trailing 4 Quarter Avg Office Portfolio Figures may not foot due to rounding. NON-OWNER OCCUPIED OFFICE CRE PORTFOLIO NON-OWNER OCCUPIED OFFICE GEOGRAPHICALLY DIVERSE NON PORTFOLIO CREDIT QUALITY -OWNER OCCUPIED OFFICE PORTFOLIO * DC, Montgomery County, Prince George’s County, Fairfax County, Fairfax City, Falls Church City, Arlington County, Alexandria City ( $ M I LLI O N S ) Carolinas $305 Western VA $107 Fredericksburg Area $142 Central VA $94 Coastal VA/NC $65 Baltimore $129 DC Metro $403 Other Maryland $54 Eastern VA $37 Other $55 Total $1,392 BY MARKET DC METRO SUBMARKET* KEY PORTFOLIO METRICS Avg. Office Loan ($ thousands) $1,977 Median Office Loan ($ thousands) $704 Loan Loss Reserve / Office Loans 3.14% NCOs / Office Loans1 -0.06% Delinquencies / Office Loans 0.14% NPL / Office Loans 0.03% Criticized Loans / Office Loans 8.78% District of Columbia $71 Suburban Maryland $185 Suburban Virginia $147 Total $403

| 22 MULTIFAMILY CRE PORTFOLIO 1. Trailing 4 Quarters Avg NCO/Trailing 4 Quarter Avg Multifamily Portfolio Figures may not foot due to rounding. Carolinas $735 Western VA $279 Fredericksburg Area $92 Central VA $281 Coastal VA/NC $177 Baltimore $164 DC Metro $276 Other Maryland $10 Eastern VA $82 Other $101 Total $2,196 At September 30,2025 * DC, Montgomery County, Prince George’s County, Fairfax County, Fairfax City, Falls Church City, Arlington County, Alexandria City BY MARKET MULTIFAMILY PORTFOLIO CREDIT GEOGRAPHICALLY DIVERSE MULTIFAMILY PORTFOLIO QUALITY DC METRO SUBMARKET* KEY PORTFOLIO METRICS ( $ M I LLI O N S ) Avg. Multifamily Loan ($ thousands) $3,338 Median Multifamily Loan ($ thousands) $782 Loan Loss Reserve / Multifamily Loans 0.52% NCOs / Multifamily Loans1 0.00% Delinquencies / Multifamily Loans 0.42% NPL / Multifamily Loans 0.07% Criticized Loans / Multifamily Loans 9.05% District of Columbia $218 Suburban Maryland $51 Suburban Virginia $6 Total $276

| 23 $695 million 1.28% $2.5 million Total Amount of Loans Loan Loss Reserve/ Gov Con Loans Avg. Loan Size 0.03% 0.0% 5.82% Non-Performing Loans Net Charge-Offs1 Criticized Loans/ Gov Con Loans 1. Trailing 4 Quarters Avg NCO/Trailing 4 Quarter Avg Government Contracting Portfolio OVERVIEW OF GOVERNMENT-RELATED LOAN PORTFOLIO EXPOSURES • Government Contracting team has managed through government shutdowns and sequestrations in the past. • Focus on national security agency and defense industry contractors. • Active monitoring of all published notices of contract terminations or stop work orders. KEY METRICS OF GOVERNMENT CONTRACTING PORTFOLIO As of September 30,2025

| 24 ATTRACTIVE CORE DEPOSIT BASE Cost of deposit data is as of and for the three months ended September 30, 2025, figures may not foot due to rounding 1. Core deposits defined as total deposits less jumbo time deposits and brokered deposits Non-Interest Bearing 23% Interest Checking 23% Money Market 23% Retail Time 13% Jumbo Time 6% Brokered 3% Savings 9% DEPOSIT BASE CHARACTERISTICS DEPOSIT COMPOSITION AT SEPTEMBER 30, 2025 — $30.7 BILLION 91% core deposits1 46% transactional accounts 2.18% Q3 2025 cost of deposits

| 25 GRANULAR DEPOSIT BASE CUSTOMER DEPOSIT GRANULARITY PERIOD END UNINSURED & UNCOLLATERALIZED DEPOSITS AS A PERCENTAGE OF TOTAL DEPOSITS ( $ M I LLI O N S ) $19,000 $22,000 $22,000 $92,000 $105,000 $104,000 Q3 2024 Q2 2025 Q3 2025 Retail Avg. Deposits Acct Size Business Avg. Deposits Acct Size 27% 29% 30% 32% 32% $5,551 $5,992 $6,060 $9,907 $9,802 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025

| 26 Cash and Cash Equivalents (unrestricted) $786 Unencumbered Securities $2,433 FHLB Borrowing Capacity $5,420 Fed Funds Lines $1,410 Discount Window $3,352 Secondary Sources* $1,969 AUB LIQUIDITY POSITION * Includes brokered deposits and other sources of liquidity Figures may not foot due to rounding Liquidity Sources Total $15.4 billion At September 30,2025 TOTAL LIQUIDITY SOURCES OF $15.4 BILLION ~157% Liquidity Coverage Ratio of Uninsured/Uncollateralized Deposits of $9.8 billion ($ MILLIONS)

| 27 SECURITIES PORTFOLIO • Total securities portfolio of $5.1 billion with a total unrealized loss of $363.3 million – 84% of total portfolio book value in available-for-sale (“AFS”) at an unrealized loss of $327.6 million – 16% of total portfolio book value designated as held-to-maturity with an unrealized loss of $35.7 million – 16% floating rate versus 84% fixed rate • Total effective duration of approximately 4.0 years. Securities portfolio is used defensively to neutralize overall asset sensitive interest rate risk profile • ~25% municipals, ~73% treasuries, agency MBS/CMOs and ~2% corporates and other investments • In April 2025, we restructured $485.2 million in AFS securities acquired from Sandy Spring. A majority of the proceeds were reinvested into higher yielding securities, primarily fixed rated securities, which will be accretive to forward earnings. • Securities to total assets of 13.9% as of September 30, 2025, up from 12.4% on June 30, 2025 $3,415 $4,636 $5,151 3Q 2024 2Q 2025 3Q 2025 3.92% Yield 4.15% Yield 4.10% Yield INVESTMENT SECURITIES BALANCES Total AFS (fair value) and HTM (carrying value) At September 30,2025 ( $ M I LLI O N S )

| 28 RECONCILIATION OF NON-GAAP DISCLOSURES We have provided supplemental performance measures determined by methods other than in accordance with GAAP. These non-GAAP financial measures are a supplement to GAAP, which we use to prepare our financial statements, and should not be considered in isolation or as a substitute for comparable measures calculated in accordance with GAAP. In addition, our non-GAAP financial measures may not be comparable to non-GAAP financial measures of other companies. We use the non-GAAP financial measures discussed herein in our analysis of our performance. Management believes that these non-GAAP financial measures provide additional understanding of ongoing operations, enhance comparability of results of operations with prior periods and show the effects of significant gains and charges in the periods presented without the impact of items or events that may obscure trends in our underlying performance or show the potential effects of accumulated other comprehensive income or unrealized losses on held to maturity securities on our capital. Due to the impact of completing the Sandy Spring acquisition in the second quarter of 2025 and the acquisition of American National Bankshares in the second quarter of 2024, we updated our non-GAAP operating measures beginning in the second quarter of 2025 to exclude the CECL Day 1 non-PCD loans and RUC provision expense. The CECL Day 1 non-PCD loans and RUC provision expense is comprised of the initial provision expense on non-PCD loans, which represents the CECL “double count” of the non-PCD credit mark, and the additional provision for unfunded commitments. The Company does not view the CECL Day 1 non-PCD loans and RUC provision expense as organic costs to run the Company’s business and believes this updated presentation provides investors with additional information to assist in period-to-period and company-to-company comparisons of operating performance, which will aid investors in analyzing the Company’s performance.

| 29 RECONCILIATION OF NON-GAAP DISCLOSURES Adjusted operating measures exclude, as applicable, merger-related costs, the CECL Day 1 non-PCD loans and RUC provision expense, (loss) gain on CRE loan sale, gain on sale of equity interest in CSP, and gain on sale of securities. The Company believes these non-GAAP adjusted measures provide investors with important information about the continuing economic results of the Company’s operations. The Company believes net interest income (FTE), total revenue (FTE), and total adjusted revenue (FTE), which are used in computing net interest margin (FTE), efficiency ratio (FTE) and adjusted operating efficiency ratio (FTE), provide valuable additional insight into the net interest margin and the efficiency ratio by adjusting for differences in tax treatment of interest income sources. The entire FTE adjustment is attributable to interest income on earning assets, which is used in computing the yield on earning assets. Interest expense and the related cost of interest-bearing liabilities and cost of funds ratios are not affected by the FTE components. The adjusted operating efficiency ratio (FTE) excludes, as applicable, the amortization of intangible assets, merger-related costs, gain on sale of securities, (loss) gain on CRE loan sale, and gain on sale of equity interest in CSP. This measure is similar to the measure used by the Company when analyzing corporate performance and is also similar to the measure used for incentive compensation. The Company believes this adjusted measure provides investors with important information about the continuing economic results of the Company’s operations. ADJUSTED OPERATING EARNINGS AND EFFICIENCY RATIO (Dollars in thousands, except per share amounts) For the three months ended September 30, 2025 June 30, 2025 Operating Measures Net Income (GAAP) $ 92,140 $ 19,791 Plus: Merger-related costs, net of tax 26,856 63,349 Plus: CECL Day 1 non-PCD loans and RUC provision expense, net of tax — 77,742 Less: (Loss) gain on CRE loan sale, net of tax (3,700) 12,104 Less: Gain on sale of equity interest in CSP, net of tax — 10,654 Less: Gain on sale of securities, net of tax 3 12 Adjusted operating earnings (non-GAAP) $ 122,693 $ 138,112 Less: Dividends on preferred stock 2,967 2,967 Adjusted operating earnings available to common shareholders (non-GAAP) $ 119,726 $ 135,145 Weighted average common shares outstanding, diluted 141,986,217 141,738,325 EPS available to common shareholders, diluted (GAAP) $ 0.63 $ 0.12 Adjusted operating EPS available to common shareholders (non-GAAP) $ 0.84 $ 0.95 Operating Efficiency Ratio Noninterest expense (GAAP) $ 238,446 $ 279,698 Less: Amortization of intangible assets 18,145 18,433 Less: Merger-related costs 34,812 78,900 Adjusted operating noninterest expense (non-GAAP) $ 185,489 $ 182,365 Noninterest income (GAAP) $ 51,751 $ 81,522 Less: Gain on sale of securities 4 16 Less: (Loss) gain on CRE loan sale (4,805) 15,720 Less: Gain on sale of equity interest in CSP — 14,300 Adjusted operating noninterest income (non-GAAP) $ 56,552 $ 51,486 Net interest income (GAAP) $ 319,210 $ 321,371 Noninterest income (GAAP) 51,751 81,522 Total revenue (GAAP) $ 370,961 $ 402,893 Net interest income (FTE) (non-GAAP) $ 323,629 $ 325,733 Adjusted operating noninterest income (non-GAAP) 56,552 51,486 Total adjusted revenue (FTE) (non-GAAP) $ 380,181 $ 377,219 Efficiency ratio (GAAP) 64.28% 69.42% Efficiency ratio FTE (non-GAAP) 63.52% 68.68% Adjusted operating efficiency ratio (FTE) (non-GAAP) 48.79% 48.34%

| 30 RECONCILIATION OF NON-GAAP DISCLOSURES The Company believes net interest income (FTE), total revenue (FTE), and total adjusted revenue (FTE), which are used in computing net interest margin (FTE), efficiency ratio (FTE) and adjusted operating efficiency ratio (FTE), provide valuable additional insight into the net interest margin and the efficiency ratio by adjusting for differences in tax treatment of interest income sources. The entire FTE adjustment is attributable to interest income on earning assets, which is used in computing the yield on earning assets. Interest expense and the related cost of interest-bearing liabilities and cost of funds ratios are not affected by the FTE components. NET INTEREST MARGIN (Dollars in thousands) For the three months ended September 30, 2025 June 30, 2025 Net interest income (GAAP) $ 319,210 $ 321,371 FTE adjustment 4,419 4,362 Net interest income (FTE) (non-GAAP) $ 323,629 $ 325,733 Noninterest income (GAAP) 51,751 81,522 Total revenue (FTE) (non-GAAP) $ 375,380 $ 407,255 Average earning assets $ 33,563,417 $ 34,121,715 Net interest margin (GAAP) 3.77% 3.78% Net interest margin (FTE) (non-GAAP) 3.83% 3.83%

| 31 RECONCILIATION OF NON-GAAP DISCLOSURES Tangible assets and tangible common equity are used in the calculation of certain profitability, capital, and per share ratios. The Company believes tangible assets, tangible common equity and the related ratios are meaningful measures of capital adequacy because they provide a meaningful base for period-to-period and company-to-company comparisons, which the Company believes will assist investors in assessing the capital of the Company and its ability to absorb potential losses. The Company believes tangible common equity is an important indication of its ability to grow organically and through business combinations, as well as its ability to pay dividends and to engage in various capital management strategies. The Company also calculates adjusted tangible common equity to tangible assets ratios to exclude AOCI, which is principally comprised of unrealized losses on AFS securities, and to include the impact of unrealized losses on HTM securities. The Company believes that each of these ratios enables investors to assess the Company's capital levels and capital adequacy without the effects of changes in AOCI, some of which are uncertain and difficult to predict, or assuming that the Company realized all previously unrealized losses on HTM securities at the end of the period, as applicable. TANGIBLE ASSETS, TANGIBLE COMMON EQUITY, AND LEVERAGE RATIO (Dollars in thousands, except per share amounts) As of September 30, 2025 Atlantic Union Atlantic Union Bankshares Bank Tangible Assets Ending Assets (GAAP) $ 37,072,733 $ 36,990,513 Less: Ending goodwill 1,726,386 1,726,386 Less: Ending amortizable intangibles 333,236 333,236 Ending tangible assets (non-GAAP) $ 35,013,111 $ 34,930,891 Tangible Common Equity Ending equity (GAAP) $ 4,917,058 $ 5,617,159 Less: Ending goodwill 1,726,386 1,726,386 Less: Ending amortizable intangibles 333,236 333,236 Less: Perpetual preferred stock 166,357 — Ending tangible common equity (non-GAAP) $ 2,691,079 $ 3,557,537 Net unrealized losses on HTM securities, net of tax $ (35,687) $ (35,687) Accumulated other comprehensive loss (AOCI) $ (283,108) $ (283,154) Common shares outstanding at end of period 141,732,071 Average equity (GAAP) $ 4,866,989 $ 5,536,815 Less: Average goodwill 1,711,081 1,711,081 Less: Average amortizable intangibles 342,064 342,064 Less: Average perpetual preferred stock 166,356 — Average tangible common equity (non-GAAP) $ 2,647,488 $ 3,483,670

| 32 RECONCILIATION OF NON-GAAP DISCLOSURES Tangible assets and tangible common equity are used in the calculation of certain profitability, capital, and per share ratios. The Company believes tangible assets, tangible common equity and the related ratios are meaningful measures of capital adequacy because they provide a meaningful base for period-to-period and company-to-company comparisons, which the Company believes will assist investors in assessing the capital of the Company and its ability to absorb potential losses. The Company believes tangible common equity is an important indication of its ability to grow organically and through business combinations, as well as its ability to pay dividends and to engage in various capital management strategies. The Company also calculates adjusted tangible common equity to tangible assets ratios to exclude AOCI, which is principally comprised of unrealized losses on AFS securities, and to include the impact of unrealized losses on HTM securities. The Company believes that each of these ratios enables investors to assess the Company's capital levels and capital adequacy without the effects of changes in AOCI, some of which are uncertain and difficult to predict, or assuming that the Company realized all previously unrealized losses on HTM securities at the end of the period, as applicable. TANGIBLE ASSETS, TANGIBLE COMMON EQUITY, AND LEVERAGE RATIO (Dollars in thousands, except per share amounts) As of September 30, 2025 Atlantic Union Atlantic Union Bankshares Bank Common equity to total assets (GAAP) 12.8% 15.2% Tangible equity to tangible assets (non-GAAP) 8.2% 10.2% Tangible equity to tangible assets, incl net unrealized losses on HTM securities (non-GAAP) 8.1% 10.1% Tangible common equity to tangible assets (non-GAAP) 7.7% 10.2% Tangible common equity to tangible assets, incl net unrealized losses on HTM securities (non-GAAP) 7.6% 10.1% Tangible common equity to tangible assets, ex AOCI (non-GAAP) 8.5% Book value per common share (GAAP) $ 33.52 Tangible book value per common share (non-GAAP) $ 18.99 Tangible book value per common share, ex AOCI (non-GAAP) $ 20.98 Leverage Ratio Tier 1 capital $ 3,180,500 $ 3,882,028 Total average assets for leverage ratio $ 35,651,323 $ 35,569,440 Leverage ratio 8.9% 10.9% Leverage ratio, incl AOCI and net unrealized losses on HTM securities (non-GAAP) 8.0% 10.0%

| 33 RECONCILIATION OF NON-GAAP DISCLOSURES All regulatory capital ratios at September 30, 2025 are estimates and subject to change pending the Company’s filing of its FR Y-9C. In addition to these regulatory capital ratios, the Company adjusts certain regulatory capital ratios to include the impacts of AOCI, which the Company has elected to exclude from regulatory capital ratios under applicable regulations, and net unrealized losses on HTM securities, assuming that those unrealized losses were realized at the end of the period, as applicable. The Company believes that each of these ratios help investors to assess the Company's regulatory capital levels and capital adequacy. RISK-BASED CAPITAL RATIOS (Dollars in thousands) As of September 30, 2025 Atlantic Union Bankshares Atlantic Union Bank Risk-Based Capital Ratios Net unrealized losses on HTM securities, net of tax $ (35,687) $ (35,687) Accumulated other comprehensive loss (AOCI) $ (283,108) $ (283,154) Common equity tier 1 capital $ 3,014,144 $ 3,882,028 Tier 1 capital $ 3,180,500 $ 3,882,028 Total capital $ 4,199,274 $ 4,171,261 Total risk-weighted assets $ 30,381,076 $ 30,300,723 Common equity tier 1 capital ratio 9.9% 12.8% Common equity tier 1 capital ratio, incl AOCI and net unrealized losses on HTM securities (non-GAAP) 8.9% 11.8% Tier 1 capital ratio 10.5% 12.8% Tier 1 capital ratio, incl AOCI and net unrealized losses on HTM securities (non-GAAP) 9.4% 11.8% Total capital ratio 13.8% 13.8% Total capital ratio, incl AOCI and net unrealized losses on HTM securities (non-GAAP) 12.8% 12.7%

| 34 RECONCILIATION OF NON-GAAP DISCLOSURES Tangible assets and tangible common equity are used in the calculation of certain profitability, capital, and per share ratios. The Company believes tangible assets, tangible common equity and the related ratios are meaningful measures of capital adequacy because they provide a meaningful base for period-to-period and company-to-company comparisons, which the Company believes will assist investors in assessing the capital of the Company and its ability to absorb potential losses. The Company believes tangible common equity is an important indication of its ability to grow organically and through business combinations as well as its ability to pay dividends and to engage in various capital management strategies. The Company believes that ROTCE is a meaningful supplement to GAAP financial measures and is useful to investors because it measures the performance of a business consistently across time without regard to whether components of the business were acquired or developed internally. Adjusted operating measures exclude, as applicable, merger-related costs, the CECL Day 1 non-PCD loans and RUC provision expense, gain on sale of securities, (loss) gain on CRE loan sale, gain on sale of equity interest in CSP and amortization of intangible assets. The Company believes these non-GAAP adjusted measures provide investors with important information about the continuing economic results of the Company’s operations. OPERATING MEASURES (Dollars in thousands) For the three months ended September 30, 2025 June 30, 2025 Return on average assets (ROA) Average assets (GAAP) $ 37,377,383 $ 37,939,232 ROA (GAAP) 0.98% 0.21% Adjusted operating ROA (non-GAAP) 1.30% 1.46% Return on average equity (ROE) Adjusted operating earnings available to common shareholders (non-GAAP) $ 119,726 $ 135,145 Plus: Amortization of intangibles, tax effected 14,335 14,562 Adjusted operating earnings available to common shareholders before amortization of intangibles (non-GAAP) $ 134,061 $ 149,707 Average equity (GAAP) $ 4,866,989 $ 4,761,630 Less: Average goodwill 1,711,081 1,710,557 Less: Average amortizable intangibles 342,064 360,589 Less: Average perpetual preferred stock 166,356 166,356 Average tangible common equity (non-GAAP) $ 2,647,488 $ 2,524,128 ROE (GAAP) 7.51% 1.67% Return on tangible common equity (ROTCE) Net Income available to common shareholders (GAAP) $ 89,173 $ 16,824 Plus: Amortization of intangibles, tax effected 14,335 14,562 Net Income available to common shareholders before amortization of intangibles (non-GAAP) $ 103,508 $ 31,386 ROTCE (non-GAAP) 15.51% 4.99% Adjusted operating ROTCE (non-GAAP) 20.09% 23.79%

| 35 RECONCILIATION OF NON-GAAP DISCLOSURES Pre-tax pre-provision adjusted earnings excludes, as applicable, the provision for credit losses, which can fluctuate significantly from period-to-period under the CECL methodology, income tax expense (benefit), merger-related costs, gain on sale of securities, (loss) gain on CRE loan sale, and gain on sale of equity interest in CSP. The Company believes this adjusted measure provides investors with important information about the continuing economic results of the Company’s operations. PRE-TAX PRE-PROVISION ADJUSTED OPERATING EARNINGS (Dollars in thousands) For the three months ended September 30, 2025 June 30, 2025 Net income (GAAP) $ 92,140 $ 19,791 Plus: Provision for credit losses 16,233 105,707 Plus: Income tax expense (benefit) 24,142 (2,303) Plus: Merger-related costs 34,812 78,900 Less: Gain on sale of securities 4 16 Less: (Loss) gain on CRE loan sale (4,805) 15,720 Less: Gain on sale of equity interest in CSP — 14,300 PTPP adjusted operating earnings (non-GAAP) $ 172,128 $ 172,059