Webster Financial Corporation Investor Presentation — October 2022

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WEBSTER FINANCIAL CORPORATION

October 20, 2022Earnings

Conference Call2 WEBSTER FINANCIAL CORPORATION•Reported results include merger/initiative related

charges of $37.2 million pre-tax

•Adjusted results highlight strong performance

◦Loan growth in diverse segments

◦Modest increase in deposit costs

◦LQ growth in NII of 13.2%

◦LQ growth in PPNR of 17.6%

◦Efficiency ratio of 41%

•NIM expanded 26 bps to 3.54%

•Balance sheet well positioned for rising rates

◦61% of loan portfolio is floating or periodic

◦Floating and periodic rate loans no longer

•Strong capital position; provides optionality

◦Repurchased $100 million WBS sharesThird Quarter 2022 Highlights

Note: Adjusted results are non-GAAP. See non-GAAP reconciliation on pages 8 and 30 through 31.REPORTED ADJUSTED

NET INCOME AVAILABLE TO COMMON NET INCOME AVAILABLE TO COMMON

DILUTED EPS DILUTED EPS

ROATCE ROATCE3 WEBSTER FINANCIAL CORPORATION•Continued progress on key integration milestones, with a sharp focus on executing "business as usual"

•On track to exceed key merger deliverables, including returns, efficiency, and loan growth

•Mid-2023 systems conversion and expense saves on target

•Core businesses are investing in additional front-line colleagues and bringing on new clientsMerger Integration Update

Third Quarter 2022 Accomplishments

•Combined commercial credit risk management system

•Rolled out consolidated commercial client pricing tools

•Corporate real estate consolidation >50% completeNext Steps

•Consolidation of cloud data centers

•Transition Consumer Banking wealth and investment

services operations to third-party provider

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