Nicolet Bankshares : NCBS Investor Presentation

Investor Presentation

3Q 2022

Securities Legend

Forward Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995

Certain statements contained in this communication, which are not statements of historical fact, constitute forward-looking statements within the meaning of the federal securities law. Such statements include, but are not limited to, statements about Nicolet's business plans, objectives, expectations and intentions, all of which are subject to numerous assumptions, risks and uncertainties. Words or phrases such as "anticipate," "believe," "aim," "can," "conclude," "continue," "could," "estimate," "expect," "foresee," "goal," "intend," "may," "might," "outlook," "possible," "plan," "predict," "project," "potential," "seek," "should," "target," "will," "will likely," "would," or the negative of these terms or other comparable terminology, as well as similar expressions, are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.

Forward-looking statements are not historical facts but instead express only management's beliefs regarding future results or events, many of which, by their nature, are inherently uncertain and outside of management's control. It is possible that actual results and outcomes may differ, possibly materially, from the anticipated results or outcomes indicated in these forward-looking statements. Please refer to Nicolet's 2021 Annual Report on Form 10-K, as well as its other filings with the SEC, for a more detailed discussion of risks, uncertainties and factors that could cause actual results to differ from those discussed in the forward-looking statements.

All forward-looking statements included in this communication are made as of the date hereof and are based on information available to management at that time. Except as required by law, Nicolet does not assume any obligation to update any forward-looking statement to reflect events or circumstances that occur after the date the forward-looking statements were made.

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Company Profile

Real People. Real Conversations.

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Overview of Nicolet Bankshares, Inc.

Company Overview

• Founded in 2000, and has quickly grown to become the second largest bank headquartered in Wisconsin
• Full-servicecommunity bank serving northern Wisconsin and Michigan and Eastern Minnesota, including the MSAs of Green Bay, the Fox Cities, and Eau Claire in Wisconsin; Marquette, Alpena, and Traverse City in Michigan; and the southwest suburbs of the Twin Cities
• Commercial focus (C&I and owner-occupied CRE) with ag specialty, all funded by a low-cost, stable core deposit franchise
• Three Circle Philosophy of Shared Success: "We are a relationship-focused organization delivering exceptional service throughout our communities, focusing on sustained value creation for customers, employees, and shareholders."

Primary Business Lines

Financial Highlights(1)

$ in millions		2019	2020	2021	YTD 2022
Total Assets		$3,577	$4,552	$7,695	$8,896
Total Loans		$2,574	$2,789	$4,622	$5,984
Total Deposits		$2,954	$3,910	$6,466	$7,396
Total Equity		$516	$539	$892	$938
(2)		1.56%	1.47%	1.39%	1.26%
Adjusted ROAA
Adjusted ROATCE	(2)	16.55%	17.46%	17.81%	18.47%
NIM		4.19%	3.38%	3.37%	3.36%
Efficiency Ratio		59.54%	51.72%	55.49%	54.68%
NPA/Assets		0.42%	0.29%	0.73%	0.45%
NCO/Avg Loans		0.02%	0.05%	0.01%	0.00%

History of Growth(3)

	Commercial		Wealth
	Banking		Management
•	Founded as a	•	Provides wealth and
	commercially-focused		asset management
	bank since 2000,		services to individuals
	offering a full suite of		and businesses
	products and services	•	Offered wealth
	for businesses		services since 2002,
•	55 branch locations(1)		however rapid growth
•	Entrepreneurial		came in 2016 with new
	philosophy provides		hires
	an attractive platform	•	Total AUM (trust/RIA)
	for talented bankers		of $3.6 billion(3)

Mortgage

• $1.8 billion+ loans closed in 2020 and 2021
• $1.6 billion mortgage servicing portfolio(3)
• Unique non- commission based compensation structure allows for greater operating leverage with additional volumes

($billions)

(1)	Source: S&P Global Market Intelligence / Company Reports. YTD 2022 as of September 30, 2022	4
(2)	Adjusted ROAA and ROATCE are non-GAAP calculations, and remove certain one-time merger related costs and assets gains/losses. See Appendix for reconciliation to reported GAAP results
(3)	Source: Company Reports; data as of September 30, 2022; shaded area includes past acquisitions

The Upper Midwest's Leading Community Bank The Upper Midwest's Leading Community Bank

Note: Lake Hallie, WI location currently under construction

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